The
ESS Action Plan on the accounting consequences of the financial turmoil was presented in Autumn 2008 to ensure that statisticians provide a swift response when called upon and develop harmonised recording approaches to the statistical treatment of bank and other market support operations. The ESS Action Plan focuses on the coordination of the different actors in the ESS, on the implementation of appropriate procedures and methodology to handle the statistical accounting consequences of the financial turmoil and on communication aspects. In particular, given the importance of the topic, the Committee on Monetary, Financial and Balance of Payments statistics has established a specific task force of statistical experts, from National Statistical Institutes and Central Banks to deal with methodological aspects and procedures.
